Capital Controls with International Reserve Accumulation: Can this Be Optimal ?

Motivated by the Chinese experience, we analyze a semi-open economy where the central bank has access to international capital markets, but the private sector has not. This enables the central bank to choose an interest rate different from the international rate. We examine the optimal policy of the central bank by modelling it as a Ramsey planner who can choose the level of domestic public debt and of international reserves. The central bank can improve savings opportunities of credit-constrained consumers modelled as in Woodford (1990). We find that in a steady state it is optimal for the central bank to replicate the open economy, i.e., to issue debt financed by the accumulation of reserves so that the domestic interest rate equals the foreign rate. When the economy is in transition, however, a rapidly growing economy has a higher welfare without capital mobility and the optimal interest rate differs from the international rate. We argue that the domestic interest rate should be temporarily above the international rate. We also find that capital controls can still help reach the first best when the planner has more fiscal instruments.

Contribution of subcortical structures to cognition assessed with invasive electrophysiology in humans

Implantation of deep brain stimulation (DBS) electrodes via stereotactic neurosurgery has become a standard procedure for the treatment of Parkinson's disease. More recently, the range of neuropsychiatric conditions and the possible target structures suitable for DBS have greatly increased. The former include obsessive compulsive disease, depression, obesity, tremor, dystonia, Tourette's syndrome and cluster-headache. In this article we argue that several of the target structures for DBS (nucleus accumbens, posterior inferior hypothalamus, nucleus subthalamicus, nuclei in the thalamus, globus pallidus internus, nucleus pedunculopontinus) are located at strategic positions within brain circuits related to motivational behaviors, learning, and motor regulation. Recording from DBS electrodes either during the operation or post-operatively from externalized leads while the patient is performing cognitive tasks tapping the functions of the respective circuits provides a new window on the brain mechanisms underlying these functions. This is exemplified by a study of a patient suffering from obsessive-compulsive disease from whom we recorded in a flanker task designed to assess action monitoring processes while he received a DBS electrode in the right nucleus accumbens. Clear error-related modulations were obtained from the target structure, demonstrating a role of the nucleus accumbens in action monitoring. Based on recent conceptualizations of several different functional loops and on neuroimaging results we suggest further lines of research using this new window on brain functions.

Catching up with competitiveness in emerging markets – An analysis of the role of the firm’s technology management strategies

Emerging markets have experienced rapid economic growth, and manufacturing firms have had to face the effects of globalisation. Some of the major emerging economies have been able to create a supportive business environment that fosters innovation, and China is a good example of a country that has been able to increase value-added investments. Conversely, when we look at Russia, another big emerging market, we witness a situation in which domestic firms struggle more with global competitiveness. Innovation has proven to be one of the most essential ingredients for firms aiming to grow and become more competitive. In emerging markets, the business environment sets many constraints for innovation. However, open strategic choices in new product development enable companies in emerging markets to expand their resource base and capability building. Networking and close inter-firm cooperation are essential in this regard. In this dissertation, I argue that technology transfer is one of the key tools for these companies to become internationally networked and to improve their competitiveness. It forces companies to reach outside the company and national borders, which in many cases, is a major challenge for firms in emerging markets. This dissertation focuses on how companies can catch up with competitiveness in emerging markets. The empirical studies included in the dissertation are based on analyses of survey data mainly of firms and their strategies in the Russian manufacturing industry. The dissertation contributes to the current strategic management literature by further investigating technology management strategies in manufacturing firms in emerging markets and the benefits of more open approaches to new product development and innovation.

The Trouble with Inversion: an Examination of Science Sexual Orientation

Although some are excited about the possibility of using current scientific research into the biological causes of sexual orientation to ground rights claims, I argue that basing rights claims on this research is unwise because this research, specifically the hormonal, genetic, and structural research, is organized around the inversion assumption, a conceptual scheme within which some aspect of the biology of gay men and lesbians is thought to be inverted along sex lines.While there are many reasons to worry about the use of the inversion assumption, I focus on problems that arise from a further set of claims that must be assumed in order to make the use of the inversion assumption coherent. This further set of assumptions includes the claims (1) that heterosexuality is the standard state and that (2) this standard state is sexually-dimorphic and (3) deterministic. I argue that this set of assumptions is problematic because it results in ideological consequences that are both sexist and heterosexist.

Does just war theory need to get with the times?

La théorie de la guerre juste a fournit les principes qui forment la base de nos intuitions concernant l’éthique de la guerre pendant plus de milles ans. Cependant, la nature de la guerre a changé drastiquement dans les derniers 50 ans. Avec les avancés technologiques, tous les aspects de la guerre, du champ de bataille aux armes utilisées, sont aujourd’hui très différents. Ce qui est proposé dans ce texte est que les principes de jus in bello sont malgré tout encore adéquats pour les guerres contemporaines. Spécifiquement, en utilisant une analyse historique, ce texte argumentera contre la condition de l’urgence suprême de Michael Walzer pour proposer une approche qui laisse les principes de bases du jus in bello intactes. Ce texte suggère que les théoriciens de la guerre juste se penchent sur la question des armes prohibées pour avoir un impacte positif dans le domaine de l’éthique de la guerre.

Asset Pricing in a Production Economy with Chew–Dekel Preferences

In this paper we provide a thorough characterization of the asset returns implied by a simple general equilibrium production economy with Chew–Dekel risk preferences and convex capital adjustment costs. When households display levels of disappointment aversion consistent with the experimental evidence, a version of the model parameterized to match the volatility of output and consumption growth generates unconditional expected asset returns and price of risk in line with the historical data. For the model with Epstein–Zin preferences to generate similar statistics, the relative risk aversion coefficient needs to be about 55, two orders of magnitude higher than the available estimates. We argue that this is not surprising, given the limited risk imposed on agents by a reasonably calibrated stochastic growth model.

Does Acculturation Equal Identification? Two Studies with Latin-American Immigrants

Partout, des millions d'immigrants doivent apprendre à interagir avec une nouvelle culture (acculturation) et à s’y identifier (identification). Toutefois, il existe un débat important sur la relation entre l’acculturation et l’identification. Certains chercheurs les considèrent comme étant des concepts identiques; d’autres argumentent qu'un lien directionnel unit ces concepts (c.-à-d. l'identification mène à l'acculturation, ou l'acculturation mène à l'identification). Toutefois, aucune étude n'a pas investigué la nature et la direction de leur relation. Afin de clarifier ces questions, trois modèles théoriques testeront la relation entre l’acculturation et l’identification et deux variables centrales à l’immigration, soit être forcé à immigrer et l’incohérence des valeurs. Dans le premier modèle, les variables d'immigration prédirent simultanément l'acculturation et l'identification. Le second modèle avance que les variables d'immigration mènent à l'identification, qui mène à l'acculturation. Le troisième modèle précis plutôt que les variables d'immigration prédisent l'acculturation, qui prédit l'identification. Le premier modèle propose que l'acculturation et l'identification sont le même concept, tandis que les second et troisième stipulent qu'ils sont différents (ainsi que la direction de leur relation). Ces modèles seront comparés afin d’examiner l'existence et la direction du lien qui unit l'acculturation et l'identification. Lors de la première étude, 146 immigrants latino-américains ont répondu à un questionnaire. Les analyses des pistes causales appuient le troisième modèle stipulant que l'acculturation mène à l'identification et, donc, qu'ils sont des concepts distincts. Les résultats ont été confirmés à l’aide d’une deuxième étude où 15 immigrants latino-américains ont passé une entrevue semi-structurée. Les implications théoriques et pratiques seront discutées.

Indigenous knowledges and power in friction with human rights and development discourses : the case of the Witoto Ethnic Safeguarding Plan in the Colombian Amazon

Cette thèse analyse les négociations interculturelles des Gens du Centre (groupe amazonien multi-ethnique) avec les discours universels de droits humains et de développement mobilisés par l’État colombien. L’analyse se concentre sur le Plan de sauvegarde ethnique Witoto chapitre Leticia (ESP), qui est un des 73 plans formulés et implémentés par l’État colombien pour reconnaître les droits des peuples autochtones en danger par le déplacement forcé causé par les conflits armés internes. J’analyse l’ESP à travers la notion de friction (Tsing, 2005) qui fait référence aux caractéristiques complexes, inégalitaires et changeantes des rencontres contemporaines entre les différences des savoirs locaux et globaux. Mon analyse se base aussi sur des approches foucaldiennes et/ou subalternes de pouvoir comme la recherche anticoloniale et de la décolonisation, les perspectives critiques et contre-hégémoniques des droits humains, le post-développement, et les critiques du féminisme au développement. L’objectif de la thèse est d’analyser les savoirs (concepts de loi, de justice et de développement); les logiques de pensée (pratiques, épistémologies, rôles et espaces pour partager et produire des savoirs); et les relations de pouvoir (formes de leadership, associations, réseaux, et formes d’empowerment et disempowerment) produits et recréés par les Gens du Centre au sein des frictions avec les discours de droits humains et du développement. La thèse introduit comment la région habitée par les Gens du Centre (le Milieu Amazone transfrontalier) a été historiquement connectée aux relations inégalitaires de pouvoir qui influencent les luttes actuelles de ce groupe autochtone pour la reconnaissance de leurs droits à travers l’ESP. L’analyse se base à la fois sur une recherche documentaire et sur deux terrains ethnographiques, réalisés selon une perspective critique et autoréflexive. Ma réflexion méthodologique explore comment la position des chercheurs sur le terrain influence le savoir ethnographique et peut contribuer à la création des relations interculturelles inclusives, flexibles et connectées aux besoins des groupes locaux. La section analytique se concentre sur comment le pouvoir circule simultanément à travers des échelles nationale, régionale et locale dans l’ESP. J’y analyse comment ces formes de pouvoir produisent des sujets individuels et collectifs et s’articulent à des savoirs globaux ou locaux pour donner lieu à de nouvelles formes d’exclusion ou d’émancipation des autochtones déplacés. Les résultats de la recherche suggèrent que les Gens du Centre approchent le discours des droits humains à travers leurs savoirs autochtones sur la « loi de l’origine ». Cette loi établit leur différence culturelle comme étant à la base du processus de reconnaissance de leurs droits comme peuple déplacé. D’ailleurs, les Gens du Centre approprient les discours et les projets de développement à travers la notion d’abondance qui, comprise comme une habileté collective qui connecte la spiritualité, les valeurs culturelles, et les rôles de genre, contribue à assurer l’existence physique et culturelle des groupes autochtones. Ma thèse soutient que, même si ces savoirs et logiques de pensée autochtones sont liés à des inégalités et à formes de pouvoir local, ils peuvent contribuer à des pratiques de droits humains et de développement plurielles, égalitaires et inclusives.

What’s wrong with Charles Taylor’s moral pluralism

In political philosophy one often encounters claims on behalf of pluralism, yet there is anything but a consensus over the meaning of this fundamental concept. It is true that there is no single pluralist tradition; rather, there are different pluralist traditions within different domains of practical reason. No one would object, however, to the notion that Isaiah Berlin’s “value pluralism” is a genuine form of meta-ethical pluralism. Charles Taylor is another philosopher who is often called a pluralist, but I shall argue that this is a mistake. One of the central goals of his philosophy is that of reconciling competing aims and ends and this is incompatible with pluralism.

A non reductionist logicism with explicit definitions

This paper introduces and examines the logicist construction of Peano Arithmetic that can be performed into Leśniewski’s logical calculus of names called Ontology. Against neo-Fregeans, it is argued that a logicist program cannot be based on implicit definitions of the mathematical concepts. Using only explicit definitions, the construction to be presented here constitutes a real reduction of arithmetic to Leśniewski’s logic with the addition of an axiom of infinity. I argue however that such a program is not reductionist, for it only provides what I will call a picture of arithmetic, that is to say a specific interpretation of arithmetic in which purely logical entities play the role of natural numbers. The reduction does not show that arithmetic is simply a part of logic. The process is not of ontological significance, for numbers are not shown to be logical entities. This neo-logicist program nevertheless shows the existence of a purely analytical route to the knowledge of arithmetical laws.

Impulsiveness as a timing disturbance: neurocognitive abnormalities in attention-deficit hyperactivity disorder during temporal processes and normalization with methylphenidate.

We argue that impulsiveness is characterized by compromised timing functions such as premature motor timing, decreased tolerance to delays, poor temporal foresight and steeper temporal discounting. A model illustration for the association between impulsiveness and timing deficits is the impulsiveness disorder of attention-deficit hyperactivity disorder (ADHD). Children with ADHD have deficits in timing processes of several temporal domains and the neural substrates of these compromised timing functions are strikingly similar to the neuropathology of ADHD. We review our published and present novel functional magnetic resonance imaging data to demonstrate that ADHD children show dysfunctions in key timing regions of prefrontal, cingulate, striatal and cerebellar location during temporal processes of several time domains including time discrimination of milliseconds, motor timing to seconds and temporal discounting of longer time intervals. Given that impulsiveness, timing abnormalities and more specifically ADHD have been related to dopamine dysregulation, we tested for and demonstrated a normalization effect of all brain dysfunctions in ADHD children during time discrimination with the dopamine agonist and treatment of choice, methylphenidate. This review together with the new empirical findings demonstrates that neurocognitive dysfunctions in temporal processes are crucial to the impulsiveness disorder of ADHD and provides first evidence for normalization with a dopamine reuptake inhibitor.

Spectral functions of half-filled one-dimensional Hubbard rings with varying boundary conditions

We study the effect of varying the boundary condition on: the spectral function of a finite one-dimensional Hubbard chain, which we compute using direct (Lanczos) diagonalization of the Hamiltonian. By direct comparison with the two-body response functions and with the exact solution of the Bethe ansatz equations, we can identify both spinon and holon features in the spectra. At half-filling the spectra have the well-known structure of a low-energy holon band and its shadow-which spans the whole Brillouin zone-and a spinon band present for momenta less than the Fermi momentum. Features related to the twisted boundary condition are cusps in the spinon band. We show that the spectral building principle, adapted to account for both the finite system size and the twisted boundary condition, describes the spectra well in terms of single spinon and holon excitations. We argue that these finite-size effects are a signature of spin-charge separation and that their study should help establish the existence and nature of spin-charge separation in finite-size systems.

On the spectra of certain integro-differential-delay problems with applications in neurodynamics

We investigate the spectrum of certain integro-differential-delay equations (IDDEs) which arise naturally within spatially distributed, nonlocal, pattern formation problems. Our approach is based on the reformulation of the relevant dispersion relations with the use of the Lambert function. As a particular application of this approach, we consider the case of the Amari delay neural field equation which describes the local activity of a population of neurons taking into consideration the finite propagation speed of the electric signal. We show that if the kernel appearing in this equation is symmetric around some point a= 0 or consists of a sum of such terms, then the relevant dispersion relation yields spectra with an infinite number of branches, as opposed to finite sets of eigenvalues considered in previous works. Also, in earlier works the focus has been on the most rightward part of the spectrum and the possibility of an instability driven pattern formation. Here, we numerically survey the structure of the entire spectra and argue that a detailed knowledge of this structure is important within neurodynamical applications. Indeed, the Amari IDDE acts as a filter with the ability to recognise and respond whenever it is excited in such a way so as to resonate with one of its rightward modes, thereby amplifying such inputs and dampening others. Finally, we discuss how these results can be generalised to the case of systems of IDDEs.

Sentence repetition in adolescents with specific language impairments and autism: an investigation of complex syntax

Background: Recent studies have indicated that many children with autism spectrum disorders present with language difficulties that are similar to those of children with specific language impairments, leading some to argue for similar structural deficits in these two disorders. Aims: Repetition of sentences involving long-distance dependencies was used to investigate complex syntax in these groups. Methods & Procedures: Adolescents with specific language impairments (mean age = 15;3, n = 14) and autism spectrum disorders plus language impairment (autism plus language impairment; mean age = 14;8, n = 16) were recruited alongside typically developing adolescents (mean age = 14;4, n = 17). They were required to repeat sentences containing relative clauses that varied in syntactic complexity. Outcomes & Results: The adolescents with specific language impairments presented with greater syntactic difficulties than the adolescents with autism plus language impairment, as manifested by higher error rates on the more complex object relative clauses, and a greater tendency to make syntactic changes during repetition. Conclusions & Implications: Adolescents with specific language impairments may have more severe syntactic difficulties than adolescents with autism plus language impairment, possibly due to their short-term memory limitations.

Evaluating the potential for statistical decadal predictions of sea surface temperatures with a perfect model approach

We explore the potential for making statistical decadal predictions of sea surface temperatures (SSTs) in a perfect model analysis, with a focus on the Atlantic basin. Various statistical methods (Lagged correlations, Linear Inverse Modelling and Constructed Analogue) are found to have significant skill in predicting the internal variability of Atlantic SSTs for up to a decade ahead in control integrations of two different global climate models (GCMs), namely HadCM3 and HadGEM1. Statistical methods which consider non-local information tend to perform best, but which is the most successful statistical method depends on the region considered, GCM data used and prediction lead time. However, the Constructed Analogue method tends to have the highest skill at longer lead times. Importantly, the regions of greatest prediction skill can be very different to regions identified as potentially predictable from variance explained arguments. This finding suggests that significant local decadal variability is not necessarily a prerequisite for skillful decadal predictions, and that the statistical methods are capturing some of the dynamics of low-frequency SST evolution. In particular, using data from HadGEM1, significant skill at lead times of 6–10 years is found in the tropical North Atlantic, a region with relatively little decadal variability compared to interannual variability. This skill appears to come from reconstructing the SSTs in the far north Atlantic, suggesting that the more northern latitudes are optimal for SST observations to improve predictions. We additionally explore whether adding sub-surface temperature data improves these decadal statistical predictions, and find that, again, it depends on the region, prediction lead time and GCM data used. Overall, we argue that the estimated prediction skill motivates the further development of statistical decadal predictions of SSTs as a benchmark for current and future GCM-based decadal climate predictions.